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5/31/09 5:17 PM | Johan Lindahl
Two-time Grand Slam finalist Mark Philippoussis has admitted he's burned through more than $7 million in career winnings as he faces repossession of his mother's home in Melbourne after failing to pay the $1 million mortgage.
The 32-year-old told the Herald-Sun newspaper that he has only a few small senior tour paydays in the pipeline. A private finance company which lent him money at 12 percent is now demanding payment, plus interest of $10,000 per week and possession of the property. The case is headed for court.
"Money came in left, right and centre; you just thought that's how it was for everyone and that's how it will always be," he said. "I've lived an easy life, the life you dream about.
"And at that time I thought it was normal, but it's so far from normal. A lot of people are going through tough times right now and I'm struggling just like anyone else.
"I've just got to take it on the chin and deal with it".
Philippoussis played his last ATP match with a first-round loss to Rafael Nadal at the 2006 US Open and his last match of any kind at the Hopman Cup at the start of 2007, when he injured his knee and was stretchered off in Perth.
At the height of his career, the playboy was best known for his high-performance cars and high-maintenance girlfriends, including a teenaged Miami heiress to whom he was once engaged.
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He indeed lived the high life as if money will flow his way forever, indulging in expensive sports cars. Let this be a lesson in life, don't spend more than you can afford and save some for emergency and the bad times, for good things can come to an end when you least expect it.
cable , 6/1/09 2:24 AM